Highpeak Energy，Inc Stock Price, News & Analysis

HighPeak Energy (NASDAQ: HPK) announced on January 23, 2023, that its Board has initiated a review for strategic alternatives to enhance shareholder value, including a potential sale of the Company. Financial advisors Credit Suisse and Wells Fargo, along with legal counsel Vinson & Elkins, will assist in this review. HighPeak anticipates self-sustaining operations and positive cash flow in the second half of 2023, projecting average production rates of 47-53 MBoe/d in 2023 and 70-76 MBoe/d in 2024. The Company also reported a strong inventory of approximately 2,500 drilling locations, with a projected average return of 95% at prices of $90/Bbl WTI and $4/MMBtu HH natural gas.

HighPeak Energy, Inc. (NASDAQ: HPK) announced a quarterly dividend of $0.025 per share, which will be paid on February 24, 2023, to stockholders of record as of February 1, 2023. This dividend reflects the company's focus on providing returns to its investors while continuing to engage in the acquisition and development of oil and gas reserves in the Midland Basin of West Texas. The announcement underscores HighPeak's commitment to enhancing shareholder value.

HighPeak Energy (NASDAQ: HPK) reported significant operational growth for Q3 2022, with net sales volumes averaging 26,247 Boe/d, a 19% increase from Q2. The company's EBITDAX rose to $169.7 million, up 25% quarter-over-quarter. Q4 production has averaged about 35,750 Boe/d, indicating a 63% increase. HighPeak's net income for the quarter was $107.9 million ($0.85 per diluted share), and the company achieved an impressive cash margin of $71.23 per Boe. The company’s acreage expanded by 68% to over 105,000 net acres due to recent acquisitions. HighPeak also increased its borrowing base to $550 million.

HighPeak Energy, Inc. (NASDAQ: HPK) announced a private placement of $225 million in 10.625% senior unsecured notes due 2024, expected to close around November 10, 2022. Proceeds will be used to reduce outstanding debt and for general corporate purposes. The notes are not registered under the Securities Act and may only be sold under exemption rules. This announcement is not an offer to buy or sell these securities in jurisdictions where it's unlawful.

HighPeak Energy, Inc. (NASDAQ: HPK) announced plans to release its third quarter 2022 financial results on November 14, 2022, after market close. A conference call will be held on November 15, 2022, at 10:00 a.m. Central Time for discussion of these results. Investors can register for the call online. HighPeak Energy is an independent oil and natural gas company focused on the acquisition and development of resources in the Midland Basin, West Texas.

HighPeak Energy, Inc. (HPK) announced an increase in its borrowing base to $550 million and aggregate elected commitments to $525 million, facilitated by its bank group led by Wells Fargo Bank. CEO Ryan Hightower expressed gratitude for the support from the bank group, which now includes Amegy Bank as a new addition while thanking Fifth Third Bank for their past contributions. This significant increase from an initial borrowing base of $40 million underscores HighPeak's growth trajectory in acquiring and developing oil and natural gas reserves.

HighPeak Energy announced a quarterly dividend of $0.025 per share on October 10, 2022. This dividend will be paid on November 23, 2022, to shareholders of record as of the close of business on November 1, 2022. The company, based in Fort Worth, Texas, focuses on the acquisition and development of unconventional oil and natural gas reserves in the Midland Basin of West Texas, highlighting its commitment to returning value to shareholders.

HighPeak Energy (NASDAQ: HPK) has successfully closed an $85 million private placement of 3.9 million shares at $21.61 each. This placement occurred in stages, starting on August 22, 2022, and concluding on September 2, 2022. Key participants included CEO Jack Hightower and the John Paul DeJoria Family Trust. HighPeak intends to use these funds for general corporate purposes, which will improve its balance sheet, reduce leverage, and enhance liquidity. Management's significant participation reflects confidence in the company's growth strategy.

HighPeak Energy, Inc. (NASDAQ: HPK) announced that the Sponsors have set August 22, 2022, as the date to calculate the Preferred Return under the Contingent Value Rights (CVR) Agreement. The projected return amount is $0.00, leading to the expiration of the CVRs on that date. Consequently, these rights will no longer be traded on the over-the-counter market. HighPeak operates in the Midland Basin, focusing on oil and natural gas reserves development and exploration.